Sonoco Products (SON) Stock

SON has signed a deal to sell its TFP Business for $1.8 billion. This move will help the company concentrate on its main businesses and reduce its debt.

HARTSVILLE, S.C., Dec. 18, 2024 (GLOBE NEWSWIRE) -- Sonoco Products Company, a leading global provider of sustainable packaging, has announced that it will sell its Thermoformed and Flexibles Packaging business to TOPPAN Holdings Inc. for around $1.8 billion. The deal will be made on a cash-free and debt-free basis, with standard adjustments applied.

The highest dose of SON-1010 that was tolerated was 1200 ng/kg, and there were no significant side effects or signs of cytokine release syndrome at any dose.

SON has completed the acquisition of Eviosys, which will now be part of its Consumer Packaging division.

Pankaj Mohan, the CEO of Sonnet, talks about the significance of this publication in a Virtual Investor segment called "What This Means." You can find more information by accessing the link provided.

Sonoco Products' stock has not done well, dropping 8% in the last year, but recent strategies and cost-cutting measures present a good buying opportunity. The company is purchasing Eviosys and selling off smaller divisions to enhance its product range and take advantage of sustainability trends. With improvements in productivity and strong demand for paper packaging, Sonoco is expected to see growth in earnings per share and offers a stable 4% dividend yield.

Sonoco Products Company, a top global company in sustainable packaging, has completed its acquisition of Eviosys, a leading manufacturer of food cans and closures in Europe. This move is part of Sonoco's strategy to enhance its portfolio. The acquisition was finalized on December 4, 2024, after purchasing Eviosys from KPS Capital Partners.

The top line for SON in the third quarter shows the effects of selling the Protective Solutions division and closing the thermoformed food packaging plant.

On November 1, 2024, at 8:30 AM ET, Sonoco Products Company (NYSE:SON) held its Q3 2024 earnings call. The call featured company representatives including Lisa Weeks, Howard Coker, Rob Dillard, and Rodger Fuller, along with participants from various financial institutions. The operator, Krista, welcomed everyone and introduced the conference.